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These are items of value that the organization organisation has bought and will use for an extended period of time;

Normally include items such as R&D,  land, buildings, vehicles, furniture, office equipment, computers, machinery, tools, IT equipment, fixtures and fittings, plant and certain wasting resources e.g., timberland and minerals. 

The which accounts as Depreciation in Financial Accounting.

The Financial Accounting regulations assume that  all Fixed Assеts (with exception of land) normally lose their cash value over time which accounts as Depreciationis called Depreciation.

In case of Natural Resource the Depreciation is called Depletion in Financial Accounting.

See also

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Business / Business Administration / Financial Management / Financial Accounting

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